Xiaomi Mi 5 or Redmi Note 2 could be unveiled before launch of OnePlus 2

Xiaomi's 16 July event could see the unveiling of a new smartphone expected to be Mi 5 or Redmi Note 2Xiaomi via Weibo

After releasing its Mi 4 high-end smartphone in 2014, Chinese smartphone brand Xiaomi is all set to launch another high-end device called the Mi 5 to take on the likes of the yet to be released OnePlus 2.

In a new development, the Chinese company has an event scheduled for 16 July. The invite of the event provides clues (teased by Xiaomi via its official Weibo account) that suggest that a new smartphone featuring a metal-clad outer body is to be launched.

There have been reports suggesting that the new Xiaomi smartphone (most likely to be launched on 16 July) would be the Mi 5. If indeed it is so, it would make sense for Xiaomi to release the Mi 5 just before the launch of One Plus Two, as the competition with respect to hardware between both the companies is well known and documented.

Xiaomi's Mi 4 was open for sales from July 2014 and OnePlus's One hit retail stores from June 2014.

Will it be Redmi Note 2?

Another of Xiaomi's smartphones expected to be launched in 2015 is the Redmi Note 2, successor to the popular Redmi Note of 2014. Considering the Redmi Note was launched in July 2014, there is a good chance that its successor could be unveiled during the 16 July event.

Key technical aspects of Xiaomi's yet to be released flagship smartphones

Although yet to be announced officially, Xiaomi's Mi 5 is highly speculated to feature the following key hardware aspects:

5.3in IPS capacitive display

Android 5.1.1 (Lollipop) operating platform out of the box; with MIUI 6.0 on top